Mainland Market Data Hub – Securities Market (OMD-C MMDH)

HKEX derivatives market data, including futures and options data, are not available in MMDH currently.  Subject to market demand, adding derivatives market data in MMDH may be considered in the future.

The physical length of the circuit would theoretically incur some latency difference but in practice it is not significant since the distance between client’s server and MMDH in Shanghai is relatively short as compared to the distance between MMDH in Shanghai and the OMD-C in Hong Kong.

This is dependent on the availability of high quality multicast network services by Mainland network carriers. We will continue reviewing the service offerings of Mainland carriers to see if the Mainland network infrastructure is suitable for multicast.

Binary message protocol will be used in OMD MMDH to allow optimal transmission efficiency.

Data content in OMD Securities Standard, Index Feed, Odd lot order and Stock Connect Market Feed (SCM) will be the same as those product feeds offered in OMD-C. 

Please refers to Connectivity Guide in OMD-C Corner.

OMD Securities Premium (SP) and Securities FullTick (SF) datafeeds with higher bandwidth requirements are not available in MMDH currently. Subject to market demand, adding SP and SF may be considered in the future.

Existing information vendors will not be required to apply for a separate licence for using MMDH. Only Schedule 3 of their existing Market Data Vendor Licence Agreement will be updated to list out the product feeds subscribed from MMDH. Interested clients may contact our Data Licensing & Policy Team by emailing to MarketData@hkex.com.hk.

Same as OMD-C, only real-time datafeed products are offered in MMDH.  Any clients who would connect to our MMDH will be subject to the same licensing arrangement and fees as real-time IV licensee. Please refer to our website for the Licence application forms and procedures.

Vendors who wish to redistribute the indexes available in the Index Feed need to get the corresponding licence from the index compilers directly, except for the (i) S&P/HKEX indices; and (ii) prescribed Redistributable Indices supplied by China Securities Index Company Limited which are already covered in the Market Data Vendor Licence Agreement.

Clients who retain production connection of Securities Standard (SS) to both OMD -C and MMDH will just need to pay Redistribution Fee once for the right to redistribute the SS data and One-off Connection Fee once. However, they need to pay the respective Connection Fee for connection to OMD-C and the Connection Fee for connection to MMDH, in addition to the Subscriber Fees.  Please refer to OMD Fee Schedule at HKEX website for details.

A company who would like to redistribute HKEX securities and index data by receiving SS and index feed from MMDH will be liable to pay the following license fees:

Recurring Fees                                        Amount (HK$)

Redistribution Fee                                     $51,000 per quarter

Connection Fee for MMDH (first set)           $45,000 per quarter x 2

Subscriber Fee                                          subject to a minimum subscriber fee of $6,000 per month

Total:                                                      $636,000 per annum (minimum)

One-off Fees

One-off connection fee                               $10,000

Index Feed is complimentary to SS for the time being.  We reserve the right to impose charge on Index Feed in future.  Clients who wish to redistribute the indexes may need to get the corresponding licence from the index compiler directly.

The connection fee for the additional live connection will be aligned to the OMD-C. A company is liable to pay the following licence fees:

Recurring Fees                                          Amount (HK$)

Redistribution Fee                                     $51,000 per quarter

Connection Fee for MMDH (first set)           $45,000 per quarter x 2

Connection Fee for MMDH (additional set)  $70,000 per quarter

Subscriber Fee                                          subject to a minimum subscriber fee of $6,000 per month

Total:                                                        $916,000 per annum (minimum)

One-off Fees

One-off connection fee                               $10,000

Please refer to OMD Fee Schedule at HKEX website for details.

You are only required to participate in MMDH’s Certification Test but not OMD-C’s tests.

Clients may not be required to cancel the two testing lines, but consider requesting their telecom to reconfigure the two testing lines to our production environment for Market Rehearsal and on-going production connection.

The MMDH simulator can run on Linux only.  However, the client’s feed handler can either run on the same or a different machine as the MMDH simulator, providing clients the flexibility to develop their feed handlers on a non-Linux platform.

The Broker number providing in the Broker Queue message (54) and Liquidity Provider message (13) is in integer format.  However, clients may also need to observe the Rules of the Exchange for the interpretation of broker numbers when disseminating or displaying the information to their downstream clients.

The chance of data recovery is limited. Same as OMD-C, only latest market snapshot will be available from Refresh service. The recovery of latest market snapshot by Refresh Service is documented in Section 4.2 of OMD-C MMDH Interface Specification.

Standard and Non-Standard Configuration is different in terms of minimum number of lines required for connection to MMDH. 

Standard configuration: A standard configuration will include single live connection. Minimum 3 lines will be required, two connected to the OMD MMDH primary site and one connected to OMD MMDH secondary site.

Non-standard configuration: An additional live connection added to the standard service will cover two live connections to each site. In this configuration, 4 lines will be required, i.e. two connected to the OMD MMDH primary site and two connected to the OMD MMDH secondary site.  Information Vendors can adopt this configuration to receive production data transmitted from both links concurrently at OMD MMDH production system.

No, SDNet/2 will be used only for OMD data transmission in Hong Kong central site but will not be used in Mainland Market Data Hub.  Clients who connect via MMDH should subscribe the Ethernet Connections between your own server and OMD MMDH.